Mumbai-headquartered Cyril Amarchand Mangaldas, one of India's largest full-service law firms, has launched first of its kind legal tech startup incubator.
Called as Prarambh, the startup incubator will support new technology-based solutions for the legal industry in such areas as dispute resolution, transactions, law firm operations, legal research, compliance, contract management, access to justice, and legal talent management.
Prarambh will work with young entrepreneurs to come up with new technology-based solutions for the legal industry. This will include areas related to:
Access to justice dispute resolution transaction efficiencies law firm operations legal research compliance contract management managing legal talent others Prarambh will initially be housed at the New Delhi office of Cyril Amarchand Mangaldas, and later extended to other locations.
The incubator will start out with 3-4 startups, which will be announced the first week of July.
The submission of applications will open from 8th April and will close on 30th April. The application link will be available here from 8th April, 2019.
The list of shortlisted startups will be announced on 31st May 2019. The candidates would be invited for interview and to make a pitch in June 2019, which will be followed by announcement of successful candidates in the 1st week of July 2019. The successful start ups will move in to the firm’s premises at a suitable date in the next 4 -6 weeks thereafter.
Cyril Amarchand Mangaldas was founded in May 2015 to continue the legacy of the 100-year old Amarchand & Mangaldas & Suresh A. Shroff & Co., whose pre-eminence, experience and reputation of almost a century has been unparalleled in the Indian legal fraternity. With a long and illustrious history that began in 1917, the Firm is the largest full-service law firm in India, with over 700 lawyers, including 120 partners, and offices in Mumbai, New Delhi, Bengaluru, Hyderabad, Ahmedabad and Chennai.
In 2017, the law firm became the first firm in India to adopt artificial intelligence (AI) technology in its day-to-day practice, signing up with Canadian machine learning software provider Kira Systems to process contracts and other legal documents more quickly and accurately.
Source - Business Standard